Deliveroo, a London, UK-based online food delivery company, raised an additional $98m to Series F funding round.
The round, which brought the total amount raised to $482m and valuation to over $2 billion, was led by T. Rowe Price Associates and Fidelity Management & Research Company, with participation from existing investors DST Global, General Catalyst, Index Ventures, and Accel Partners and other private investors.
The company intends to use the funds to grow:
– the Deliveroo’s Editions programme of delivery-only kitchens which allows partner restaurants to expand without any of the traditional upfront costs, whilst increasing food selection for customers and optimizing delivery times.
– its technology team, who will focus on continuing to make improvements to Deliveroo’s real-time logistics algorithm and artificial intelligence systems while improving riders’ working experience and continuing to develop Deliveroo’s products for restaurants and consumers.
– into new towns, cities and countries.
Founded in 2013 by William Shu and Greg Orlowski, Deliveroo is a delivery service that works with over 20,000 restaurants, as well as 30,000 riders to provide their food experience.
The company, which has more than 1,000 employees in offices around the globe, operates in over 150 cities across 12 countries, including Australia, Belgium, France, Germany, Hong Kong, Italy, Ireland, Netherlands, Singapore, Spain, United Arab Emirates and the United Kingdom.